IK buys Sport Group

Industri Kapital, the Nordic private equity house, has signed an agreement with funds advised by German peer ECM Equity Capital Management to acquire Sport Group, a provider of outdoor sport and recreational surface systems based in Germany. Industry experts estimate the enterprise value to be well above €100m (US$120m).

The group has three main product groups: artificial turf, tracks and playgrounds. Sport Group employs more than 550 staff and generated sales of approximately €130m in 2005.

“We intend to pro-actively support Sport Group in the expected industry consolidation,” said Detlef Dinsel, a partner at Industri Kapital’s German office in Hamburg.

Previous investments by Industri Kapital in Germany include Gardena, Dywidag Systems International, Poggenpohl and Pfaff Haushaltsnähmaschinen.